Swedbank Robur Alternative Equity invests in Northvolt
In the second quarter of 2022, Swedbank Robur launched a fund for investments in unlisted Swedish and other Nordic companies. The fund Swedbank Robur Alternative Equity I is aimed at professional investors and is now investing USD 15 million in Northvolt through a convertible debt instrument.
”With the investment in Northvolt, we support a sustainable industrial high-tech transformation to contribute to future-proof Swedish industry and commerce. We believe in the company's strong competitiveness today and tomorrow thanks to, among other things, its vertical integration, advanced digitization, modular approach and focus on research and development. Northvolt's quality and ambition to become a world leader in sustainable battery production is an ingredient in Europe's transition to renewable energy and will contribute to positive environmental effects globally”, says Henrik Lundh, Head of Alternative Investments at Swedbank Robur.
Northvolt has now delivered its first battery cells to customers and is thereby the first European battery company to make commercial deliveries to a car manufacturer. The company's vision is to accelerate the transition to a decarbonized future by supplying sustainable, high-quality battery cells and systems by building Europe's largest lithium-ion battery factory. Northvolt's mission is to build the greenest battery in the world with a minimal carbon footprint and the highest ambitions for recycling to enable the European transition to renewable energy.
“This financing round is an important part of our continued journey, and we are very pleased to welcome Swedbank Robur Alternative Equity as a new investor in Northvolt. Swedbank Robur's focus on sustainable value creation is well aligned with our corporate philosophy and core business, and this investment will contribute to the company's development going forward”, says Peter Carlsson, co-founder and CEO at Northvolt.
Swedbank Robur Alternative Equity I is a Swedish-based alternative investment fund for professional investors established in 2022. The fund invests long-term in unlisted Swedish and other Nordic companies. Investments will be made in both established growth companies and other privately owned companies with a focus on sustainable value creation and transformation.
More information:
Swedbank Robur Alternative Investments (link)
Press release Northvolt (link)
Contact:
Carina Sesser Nylund, Press Manager, Swedbank Robur ph. +46 72 230 52 64
Swedbank Robur is a wholly owned subsidiary to Swedbank and active in Swedbank´s four home markets. Swedbank Robur was founded in 1967 and offers more than 80 mutual funds, institutional and discretionary asset management and management of pension funds. The number of customers is 3 million in Sweden and 1 million in the Baltic countries. Total assets under management are approximately SEK 1966 billion (Dec 31, 2021). Swedbank Robur’s vision is to become a world leader in sustainable value creation.